Connect with us

Bitcoin

Helium sees 12% surge amid partnership trials with major US carriers

Published

on


Helium, a blockchain-based network designed for the Internet of Things, experienced a price surge of 12% on Aug. 13 morning, making it one of the leading gainers in the crypto market.

At the time of writing, Helium (HNT) was exchanging hands at $6.79 per price, according to data from crypto.news. The crypto asset’s daily trading volume jumped by 56%, hovering around $25.2 million, while its market cap stood at $1.14 billion, ranking it 65th among the top largest cryptocurrencies.

Helium sees 12% surge amid partnership trials with major US carriers - 1
HNT 24-hour price chart – Aug. 13 | Source: crypto.news

The token’s price has jumped by 20% since its drop to $5.66 yesterday, when Bitcoin fell by 4%, and the global crypto market witnessed a slump with over $156.4m in liquidations.

Despite its recovery to levels last seen on March 21, HNT is still down 88% from its all-time high of $55.2 recorded in November 2021.

Helium Inc., established in 2013, has developed a global decentralized blockchain network that supports wireless communication for IoT devices. This network offers a scalable and cost-effective alternative to conventional telecom services by allowing individuals to set up network points through Hotspots.

The latest surge follows Helium’s partnership with two major U.S. carriers. These carriers are conducting trials to offload their mobile traffic to the Helium Network, potentially leading to a shift towards a more decentralized network infrastructure.

Helium is currently trading at $6.7722, notably above the middle Bollinger Band of $5.3779. This positions it near the upper band at $7.0302, suggesting a significant upward movement within its trading range.

Helium sees 12% surge amid partnership trials with major US carriers - 2
HNT Bollinger Band and RSI – Aug. 13 | Source: crypto.news

The approach toward the upper limit indicates potential signs of an overbought condition, yet the proximity to this band also points to strong bullish momentum. This pattern may suggest further room for price increases before facing any substantial resistance or a potential pullback.

Additionally, the Relative Strength Index, standing at 66.24, edges closer to the overbought threshold of 70, hinting that a retracement could be imminent as market conditions become stretched.

Nonetheless, market analysts continue to be bullish about Helium’s future potential.

In an Aug. 13 X post, an analyst going by the moniker Decilizer noted that Helium has broken out of its secondary setup, indicating a strong upward trend, which may lead to a potential jump in HNT to $8.3 in the short term.

Helum’s jump in price may also be influenced by the general uplift in the crypto market, led by Bitcoin’s (BTC) 6.5% increase over the last week.

On Aug. 13, Bitcoin traded at $59,456, with its price ranging from $58,015 to $60,499 within 24 hours. Moreover, the total market capitalization of cryptocurrencies has risen by 1.9% in the last day, reaching $2.19 trillion.



Source link

All-Time High

Why Bitcoin Will Soar Above Its Fresh Record: Van Straten

Published

on




Even after breaking through $77,000 for the first time, bitcoin’s price looks very likely to keep soaring, CoinDesk senior analyst James Van Straten argues.



Source link

Continue Reading

Bitcoin

Bitcoin Realized Cap At All-Time High As Price Hits $77,000 For The First Time

Published

on


Opeyemi is a proficient writer and enthusiast in the exciting and unique cryptocurrency realm. While the digital asset industry was not his first choice, he has remained absolutely drawn since making a foray into the space over two years. Now, Opeyemi takes pride in creating unique pieces unraveling the complexities of blockchain technology and sharing insights on the latest trends in the world of cryptocurrencies.

Opeyemi savors his attraction to the crypto market, which explains why he spends the better parts of his day looking through different price charts. “Looking” is a rather simple way to describe analyzing and interpreting various price patterns and chart formations. However, it appears that is not Opeyemi’s favorite part – in fact, far from it.

Being able to connect what happens on a price chart to on-chain movements and blockchain activities is what keeps Opeyemi ticking. “This emphasizes the intricacies of blockchain technology and the cryptocurrency market,” he would say. Most importantly, Opeyemi thinks of any market insights as the gospel, while recognizing that he is only a messenger.

When he is not clicking away at his keyboard, Opeyemi is most definitely listening to music, playing games, reading a book, or scrolling through X. He likes to think he is not loyal to a particular genre of music, which can be true on many days. However, the fast-rising Afrobeats genre is a staple in Opeyemi’s Spotify Daily Mix.

Meanwhile, Opeyemi is a voracious reader who enjoys a wide category of books – ranging from science fiction, fantasy, and historical, to even romance. He believes that authors like George R. R. Martin and J. K.
Rowling are the greatest of all time when it comes to putting pen to paper. Opeyemi believes his reading of the Harry Potter series twice is proof of that.

Indeed, Opeyemi enjoys spending most of his time within the four walls of his home. However, he also sometimes finds solace in the company of his friends at a bar, a restaurant, or even on a stroll. In essence, Opeyemi’s ambivert (haha! been searching for an opportunity to use the word to describe myself) nature makes him a social chameleon who is able to quickly adapt to different settings.

Opeyemi recognizes the need to constantly develop oneself in order to stay afloat in a competitive and ever-evolving market like crypto. For this reason, he is always in learning mode, ready to pick up the slightest lesson from every situation. Opeyemi is efficient and likes to deliver all that is required of him in time – he believes that “whatever is worth doing at all is worth doing well.” Hence, you will always find him striving to be better.

Ultimately, Opeyemi is a good writer and an even better person who is trying to shed light on an exciting world phenomenon – cryptocurrency. He goes to bed every day with a smile of satisfaction on his face, knowing that he has done his bit of the holy assignment – spreading the crypto gospel to the rest of the world.



Source link

Continue Reading

Bitcoin

Bitcoin (BTC) Price Tops $77K Record as Muted Funding Rates Suggest Crypto Rally Has More Room to Run

Published

on



While crypto assets booked double-digit gains during this week, with BTC sitting at record highs, funding rates for perpetual swaps on crypto exchanges are much closer to neutral levels than the market top in early March, CoinGlass data shows. Funding rate refers to the amount long traders pay shorts to take the opposite side of a trade. When funding rates are negative, shorts pay the fee to longs, as this relationship often occurs during bearish periods.



Source link

Continue Reading
Advertisement [ethereumads]

Trending

    wpChatIcon